MGM101 EXAM STUDY GUIDE
business structure - Answers -business system, strategic input, operations, business
strategy execution
operations management - Answers -effective design, development, and management
of processes in an organizations business system for the purpose of achieving strategic
intent
responsibilities of operations management - Answers -process management, supply
chain management, product/service management
process management - Answers -development of work flow processes to ensure
efficient production and delivery to makrteplace
supply chain management - Answers -management of suppliers, manufacturers, and
distributors. looks to enable all parties to meet objectives efficiently
product/service management - Answers -development of new products and support of
existing ones via modifications
value maximazation - Answers -maximizing the benefits a customer will gain by using
your product
primary activities - Answers -specific activities where development of a product occurs
support activities - Answers -not directly associated with production but aid in primary
activity (IT, finance, HR)
value chain - Answers -1. inbound logistics 2. operations 3. outbound logistics 4.
marketing/sales 5. customer service
inbound logistics - Answers -components brought into a firm to produce products
operations - Answers -manufacturing or the product changing process
outbound logistics - Answers -getting the finished product to the consumer
marketing/sales - Answers -creating awareness for brand
customer service - Answers -support provided to customer
operations cycle - Answers -alignment of tasks to meet outcomes defined in business
strategy
, process standardization - Answers -utilization of common task sequencing to produce a
variety of products
process simplification - Answers -utilization of a minimum number of tasks when
developing products
dice - Answers -define, identify, create, execute
process management process - Answers -1. process design, layout, execution 2.
materials management 3. facility design/layout 4. capital asset evaluation
PERT chart - Answers -Program evaluation review technology, schedules and
organizes tasks in a project
gnatt chart - Answers -shows each step of a project and the amount of time it will take
capacity - Answers -maximum amount of product that can be produced
supply chain partners - Answers -customers, retailers, suppliers, distributors,
transportation/logistics
supply chain management responsibilities - Answers -supply chain planning, supply
chain operating execution, supply chain performance evealuation
cash operating cycle - Answers -time it takes for a company to recover cash it paid out
to produce
international organization for standardization - Answers -world's largest developer of
international standards
six sigma - Answers -focuses of philosophy of total improvement
total quality management - Answers -broad-based approach to managing quality
geographic - Answers -segmentation based on physical location
demographic - Answers -segmentation based on age, income, education
psychographic - Answers -segmentation based on activities, interests, opinions
behavioural - Answers -segmentation based on opinions towards the given product
target marketing - Answers -marketing towards segments a company believes it can be
profitable in
business structure - Answers -business system, strategic input, operations, business
strategy execution
operations management - Answers -effective design, development, and management
of processes in an organizations business system for the purpose of achieving strategic
intent
responsibilities of operations management - Answers -process management, supply
chain management, product/service management
process management - Answers -development of work flow processes to ensure
efficient production and delivery to makrteplace
supply chain management - Answers -management of suppliers, manufacturers, and
distributors. looks to enable all parties to meet objectives efficiently
product/service management - Answers -development of new products and support of
existing ones via modifications
value maximazation - Answers -maximizing the benefits a customer will gain by using
your product
primary activities - Answers -specific activities where development of a product occurs
support activities - Answers -not directly associated with production but aid in primary
activity (IT, finance, HR)
value chain - Answers -1. inbound logistics 2. operations 3. outbound logistics 4.
marketing/sales 5. customer service
inbound logistics - Answers -components brought into a firm to produce products
operations - Answers -manufacturing or the product changing process
outbound logistics - Answers -getting the finished product to the consumer
marketing/sales - Answers -creating awareness for brand
customer service - Answers -support provided to customer
operations cycle - Answers -alignment of tasks to meet outcomes defined in business
strategy
, process standardization - Answers -utilization of common task sequencing to produce a
variety of products
process simplification - Answers -utilization of a minimum number of tasks when
developing products
dice - Answers -define, identify, create, execute
process management process - Answers -1. process design, layout, execution 2.
materials management 3. facility design/layout 4. capital asset evaluation
PERT chart - Answers -Program evaluation review technology, schedules and
organizes tasks in a project
gnatt chart - Answers -shows each step of a project and the amount of time it will take
capacity - Answers -maximum amount of product that can be produced
supply chain partners - Answers -customers, retailers, suppliers, distributors,
transportation/logistics
supply chain management responsibilities - Answers -supply chain planning, supply
chain operating execution, supply chain performance evealuation
cash operating cycle - Answers -time it takes for a company to recover cash it paid out
to produce
international organization for standardization - Answers -world's largest developer of
international standards
six sigma - Answers -focuses of philosophy of total improvement
total quality management - Answers -broad-based approach to managing quality
geographic - Answers -segmentation based on physical location
demographic - Answers -segmentation based on age, income, education
psychographic - Answers -segmentation based on activities, interests, opinions
behavioural - Answers -segmentation based on opinions towards the given product
target marketing - Answers -marketing towards segments a company believes it can be
profitable in
